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HomeRetail FXLandFX UK triples net profit in 2022, revenue up 15%
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LandFX UK triples net profit in 2022, revenue up 15%

LandFX UK is part of New Zealand-based brokerage Land-FX, which has a major presence in the Asia Pacific and a global presence with offices around the world including in China, Malaysia, the Philippines, and Russia.

In terms of the aggregated financial results, by the end of December 2022, LandFX UK put together strong YoY performance relative to 2021 figures, according to its latest filing with the UK’s Companies House.

Specifically, LandFX UK witnessed a mild uptick in its operating revenues, which came in at £823,595 – this figure is up 15 percent from the £711,544 reported back in the same period a year ago. The company’s administrative expenses also rose by 8.3 percent to £740,160 compared to £683,224 in 2021.

In terms of its operating income, the figure more than tripled, having yielded a net profit of £46,516 compared to an operating loss of £13,546 for the fiscal year ending December 31, 2021.

Meanwhile, net assets had increased +10 percent year-on-year to £471,533 from £425,017 the previous year.

“The company’s income is derived from matched principal trading in CFDs which, for the purposes of segmental analysis, is considered by the directors to be a single global market,” the filing states.

LandFX acquired its FCA license back in 2016 to operate a foreign exchange and CFDs brokerage business. After one year, the company launched an institutional offering under the brand Land-Liquidity, which is focused on providing institutional liquidity for FX, CFDs, metals, and commodities.

At the time, LandFX said that one of the reasons for the launch of the institutional business arm of the company is the recent changes in the regulatory environment. According to the firm, the retail FX market in Europe is becoming relatively unattractive for the brokers, which is why the company is looking for new opportunities in the wholesale liquidity and clearing market.

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